Remarks

This is a premium, approximately one-acre commercial site in the Town of Franklin, just across from the entrance to Franklin High School. The property is improved with a building with six apartment units. These units have been managed with low turnover in mind. These units are typically leased to long-term tenants, with the majority of the leases on month-to-month terms. This allows a new owner to increase the rental rates to market levels, which are $850 and up for similar units in this area. Typical units feature painted sheetrock walls, carpeted flooring, average quality appliances, bathrooms and kitchens. There is adequate paved parking available for each unit with two separate driveways and access points from Porter Street. The rental market in Franklin is incredible with very little vacancy and rents which have risen significantly over the past several years. The property is available for sale at the price of $649,000.

Details

MLS#: 26035777
Price: $649,000

Style: Multi-Family
Sq Ft: 52.5 x 28 and 24 x 2

Subdivision: Summer Hill
Lot Size: 0.9700